An iron-based heat-generating material excellent in oxidation resistance at an elevated temperature which comprises an iron-based alloy of the iron-chromium-aluminum series capable of generating heat by passing electricity therethrough and an Al--O coating layer covering a surface of said alloy, and an outermost layer of Al.sub.2 O.sub.3 on said Al--O coating layer, wherein said iron-based alloy comprises, by mass %, C in an amount up to 0.2, Si in an amount up to 6, Mn in an amount up to 5, Al 0.4 to 8, Cr in an amount up to 35, N in an amount up to 0.3, the balance Fe and impurities, and wherein said Al--O coating layer consists of uncombined metallic aluminum and Al.sub.2 O.sub.3, the amount of the oxygen in said coating layer being substantially less than the stoichiometric amount of oxygen in Al.sub.2 O.sub.3.